India’s telecom infrastructure is increasingly dependent on reliable backup power as operators expand and upgrade networks. This is creating demand for battery-based power backup solutions that can support telecom equipment during power interruptions. Against this backdrop, new orders for lithium-ion battery banks are providing opportunities for companies operating in the energy-storage segment.
The share price of HEG Limited has risen by 2.28% to Rs. 242.45, compared with the previous close of Rs. 237.05. The stock opened at Rs. 243.85 and traded between Rs. 248.90 and Rs. 241.20 during the session. The company has a market capitalization of Rs. 4,678.74 crore.
Large Order From Indus Towers
HEG Advanced Materials said its subsidiary Replus Engitech has received orders from Indus Towers Limited, formerly known as Bharti Infratel Limited, for the supply of lithium-ion battery banks. The order is valued at Rs. 217.56 crore, inclusive of GST, and has been awarded by a domestic entity.
The business disclosed the order under Regulation 30 of the SEBI Listing Regulations. The revised announcement dated September 18, 2026, was issued to make an amendment of the earlier announcement because of the omission of the word “Crore” following the mentioned figure Rs 217.56. For this reason, the business has provided clarification about the order value in the new announcement.
The order is subject to the relevant regulation terms outlined in the purchase orders. Neither the promoter, promoter group or group companies have any connection with Indus Towers in any way, nor does the transaction fall under the category of related transactions.
Execution Timeline
Unless the two sides negotiate a different date, the order will be completed by March 31st, 2027. The legal filing does not provide any information about the number of battery banks, unit costs, delivery dates, or gross profits. Therefore, even though the order provides significant revenue potential for the subsidiary, the impact on profits cannot be seen based on the information that has been made available. Hence, it would be imperative to keep a close watch on the order execution and costs related to the order.
Strategic Significance
The order is significant for HEG Advanced Materials as it marks Replus Engitech’s establishment as a major player in industrial lithium-ion battery technology. Replus is involved in battery energy storage solutions and lithium-ion technology for various applications, including stationary storage, telecommunication, and electric mobility. The company claims that it has a fully automated battery plant that can produce 1 GWh of batteries on its website and is capable of producing up to 6 GWh per year.
Moreover, the order placed by Indus Towers is also suitable for Replus’s telecom application of its battery. This awarding means that the production of lithium-ion batteries for backup power supplying to telecommunication infrastructures will become possible.
After the recent corporate restructuring and structural demerger of the company, this clean-energy expansion can be considered as the development of HEG Advanced Materials as an independent technology organization. However, the company hasn’t indicated that this order will have an impact on the development of the company.
About the Company
HEG Advanced Materials Limited, which was previously called HEG Limited, is part of a group called LNJ Bhilwara. After restructuring, HEG Advanced Materials has moved beyond its graphite electrode division that has become a separate company called HEG Graphite Limited. Currently, HEG Advanced Materials focuses on advanced materials as well as energy-transition applications. The company’s subsidiaries and other related companies will help it achieve a standalone goal of providing lithium-ion battery solutions and advanced carbon materials in addition to energy storage systems.
What Comes Next
The key near-term monitorable will be execution of the Indus Towers order by March 31, 2027. Investors may also track further disclosures regarding delivery progress, additional battery orders and the development of the company’s energy-storage operations. Since the filing does not provide volumes, margins or payment terms, the financial impact of the contract will become clearer as execution progresses.